Medtronic Plc (NYSE:MDT) shares, rose in value, with the stock price up by 0.76% to the previous day’s close as strong demand from buyers drove the stock to $84.56.
Actively observing the price movement in the last trading, the stock closed the session at $83.92. The value of beta (5-year monthly) was 0.77 whereas the PE ratio was 26.82 over 12-month period. Referring to stock’s 52-week performance, its high was $92.02, and the low was $68.84. On the whole, MDT has fluctuated by -1.16% over the past month.
With the market capitalization of Medtronic Plc currently standing at about $112.28 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 23, 2024. The company’s Forward Dividend Ratio is 2.76, with its dividend yield at 3.26%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.45, which is expected to increase to $1.3 for fiscal year $5.2 and then to about $5.45 by fiscal year 2025. Data indicates that the EPS growth is expected to be -1.70% in 2025, while the next year’s EPS growth is forecast to be 4.80%.
Analysts have estimated the company’s revenue for the quarter at $8.44 billion, with a low estimate of $8.34 billion and a high estimate of $8.53 billion. According to the average forecast, sales growth in current quarter could jump down -1.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $32.22 billion, representing an increase of 3.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MDT’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 7.71, with the price of MDT currently trading nearly -0.22% and -0.74% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.56, while the 7-day volatility ratio is showing 1.65% which for the 30-day chart, stands at 1.42%. Furthermore, Medtronic Plc (MDT)’s beta value is 0.79, and its average true range (ATR) is 1.33.
A comparison of Medtronic Plc (MDT) with its peers suggests the former has fared considerably weaker in the market. MDT showed an intraday change of 0.76% in last session, and over the past year, it grew by 6.40%%.
Data on historical trading for Medtronic Plc (NYSE:MDT) indicates that the trading volumes over the past 10 days have averaged 6.09 million and over the past 3 months, they’ve averaged 6.32 million. According to company’s latest data on outstanding shares, there are 1.33 billion shares outstanding.
Nearly 0.07% of Medtronic Plc’s shares belong to company insiders and institutional investors own 85.26% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.53 million shares as on Mar 15, 2024, resulting in a short ratio of 1.64. According to the data, the short interest in Medtronic Plc (MDT) stood at 0.87% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 9.81 million. The stock has risen by 2.65% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MDT stock heading into the next quarter.
